WASHINGTON TRUST Co Purchases 200 Shares of Royal Bank of Canada (NYSE:RY)

WASHINGTON TRUST Co boosted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 34.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 780 shares of the financial services provider’s stock after buying an additional 200 shares during the quarter. WASHINGTON TRUST Co’s holdings in Royal Bank of Canada were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Pathway Financial Advisers LLC raised its holdings in Royal Bank of Canada by 3.1% in the 4th quarter. Pathway Financial Advisers LLC now owns 7,966 shares of the financial services provider’s stock worth $960,000 after purchasing an additional 240 shares in the last quarter. Certuity LLC raised its holdings in Royal Bank of Canada by 17.4% in the 4th quarter. Certuity LLC now owns 2,545 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 377 shares in the last quarter. Community Bank & Trust Waco Texas raised its holdings in Royal Bank of Canada by 12.5% in the 4th quarter. Community Bank & Trust Waco Texas now owns 5,893 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 654 shares in the last quarter. Savant Capital LLC raised its holdings in Royal Bank of Canada by 13.3% in the 4th quarter. Savant Capital LLC now owns 7,550 shares of the financial services provider’s stock worth $910,000 after purchasing an additional 886 shares in the last quarter. Finally, Wagner Wealth Management LLC raised its holdings in Royal Bank of Canada by 9.0% in the 4th quarter. Wagner Wealth Management LLC now owns 6,284 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 521 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RY has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 0.2 %

Shares of Royal Bank of Canada stock opened at $119.04 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average of $121.06 and a 200 day moving average of $120.74. The firm has a market cap of $168.37 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.54%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is 49.76%.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.